ASSA ABLOY acquires Chinese window hardware manufacturer Shandong Guoqiang

ASSA ABLOY has acquired Shandong Guoqiang Hardware in China. Guoqiang offers a full range of window hardware predominantly in the Chinese market. The company has a good market presence in China through an extensive network of sales offices.

"I am very pleased to welcome Guoqiang into the ASSA ABLOY Group. Guoqiang is an important step in our expansion into new growth segments in China and other emerging markets", says Johan Molin, President and CEO of ASSA ABLOY.

"Guoqiang is a great addition to the Asia Pacific division. It complements our existing door opening solution offering in China, and provides access to China's window hardware market", says Jonas Persson, Executive Vice President of ASSA ABLOY and Head of Asia Pacific Division.

Guoqiang was established in 1998 and has over 2 000 employees. The head office and main factory is located in Leling, Shandong province, China.

Sales is expected to reach CNY 550 M (approx SEK 600 M) in 2012 with a good EBIT margin. The acquisition will be accretive to EPS from start.

For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Carolina Dybeck Happe, CFO and Executive Vice President, tel no: +46 8 506 485 72

About Us

ASSA ABLOY is the global leader in door opening solutions and offers mecahnical and electromechanical locks, digital door locks, security doors, entrance automation, hotel security and secure identity solutions, primarily in identity and access management, as well as a number of other related products and services. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international Group with some 47,500 employees operating in more than 70 countries and sales of SEK 76 billion.

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